RE: GCE Q1 Results
Skyrocketing costs at GCE - see below
First quarter cost of sales, excluding depreciation, was $59.7 million, or $152 per tonne, compared to $56.7 million, or $113 per tonne in the same period last year. Unit cost of sales during the quarter were influenced by early stage mining conditions in the No. 8 pit together with a higher strip ratio and lower plant yield than that which is expected for the life of the pit. There were also higher costs incurred for internal labour, contractor services, supplies and consumables
Clines are supposed to be around 100 including SG&A. The above exclude SG&A altough small.
Lets hope cline does not hit these problems -